Equated monthly installment. An equated monthly installment (EMI) is defined by Investopedia as A fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month, so that over a specified number of years, the loan is paid off in full..
Quote definition, to repeat (a passage, phrase, etc.) from a book, speech, or the like, as by way of authority, illustration, etc. See more.
Usage Note: People have been using the noun quote as a truncation of quotation for over one hundred years, and its use in less formal contexts is widespread today. Language critics have objected to this usage, however, as unduly journalistic or breezy, but the word appears to have gained acceptance.